The illegal dollar continues to rise
Argentina, August 20, 2013
In the beginning of the week, after the holiday, the illegal dollar exhibits a two-cent rise, reaching $ 8.97 pesos. Like last week, volatility remains much as it climbs to almost $ 9 during the day and then usually closes below that barrier.
Meanwhile, the official dollar earned another penny and trades at $ 5.60 for sale at exchange houses and banks. The exchange rate gap remains at 60.1% between the two quotes.
Also, note that the Brazilian real depreciated yesterday 0.83% up to 2,416 per dollar, and thus experienced its sixth straight day of decline. The central bank intervened twice selling dollars, and today is expected to make another sale of 20,000 contracts swaps.